Eaton Vance Management decreased its holdings in Proofpoint, Inc. (NASDAQ:PFPT) by 12.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 173,412 shares of the software maker’s stock after selling 24,680 shares during the period. Eaton Vance Management owned approximately 0.39% of Proofpoint worth $15,057,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in PFPT. BlackRock Inc. raised its holdings in Proofpoint by 22,439.7% in the 1st quarter. BlackRock Inc. now owns 3,193,429 shares of the software maker’s stock valued at $237,464,000 after acquiring an additional 3,179,261 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Proofpoint by 161.6% during the 1st quarter. Artisan Partners Limited Partnership now owns 2,313,715 shares of the software maker’s stock worth $172,048,000 after buying an additional 1,429,192 shares during the last quarter. Garelick Capital Partners LP acquired a new stake in shares of Proofpoint during the 1st quarter worth approximately $16,259,000. Vanguard Group Inc. increased its holdings in shares of Proofpoint by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 3,314,857 shares of the software maker’s stock worth $246,493,000 after buying an additional 207,412 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its holdings in shares of Proofpoint by 42.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 529,500 shares of the software maker’s stock worth $45,537,000 after buying an additional 157,000 shares during the last quarter.
PFPT has been the subject of a number of recent analyst reports. Northland Securities restated a “buy” rating and set a $100.00 price target on shares of Proofpoint in a report on Friday, June 30th. Stifel Nicolaus restated a “buy” rating on shares of Proofpoint in a report on Friday, June 23rd. Evercore ISI set a $105.00 price target on shares of Proofpoint and gave the stock a “buy” rating in a report on Friday, July 28th. Needham & Company LLC initiated coverage on shares of Proofpoint in a report on Friday, July 21st. They set a “buy” rating and a $115.00 price target for the company. Finally, Piper Jaffray Companies set a $100.00 price target on shares of Proofpoint and gave the stock a “buy” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $95.52.
Proofpoint, Inc. (NASDAQ:PFPT) opened at 91.94 on Monday. The firm has a 50-day moving average of $89.04 and a 200 day moving average of $83.68. Proofpoint, Inc. has a 12 month low of $68.04 and a 12 month high of $97.00. The stock’s market cap is $4.08 billion.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 EPS for the quarter, topping the consensus estimate of $0.12 by $0.05. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 140.24%. The firm had revenue of $122.30 million during the quarter, compared to analyst estimates of $119.58 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. Proofpoint’s revenue for the quarter was up 36.0% compared to the same quarter last year. Analysts anticipate that Proofpoint, Inc. will post $0.65 EPS for the current year.
In other news, CEO Gary Steele sold 40,000 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $87.11, for a total value of $3,484,400.00. Following the completion of the sale, the chief executive officer now owns 88,551 shares of the company’s stock, valued at $7,713,677.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bhagwat Swaroop sold 5,000 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $85.17, for a total transaction of $425,850.00. Following the completion of the sale, the executive vice president now directly owns 13,161 shares of the company’s stock, valued at approximately $1,120,922.37. The disclosure for this sale can be found here. Insiders sold 125,549 shares of company stock valued at $11,072,191 in the last three months. Company insiders own 6.80% of the company’s stock.
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
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